Why Cronos Is Skyrocketing Today
Cronos (CRYPTO: CRO) is flying higher on Wednesday, up 20.6% in the last 24 hours as of 3:49 p.m. ET. The spike comes as the S 500 and the Nasdaq Composite made modest gains.
Cronos, Crypto.com's digital token, is continuing to rise after it was revealed yesterday that Trump Media Technology and Crypto.com are teaming up to create a new entity that the companies will take public.
Trump Media is teaming up with Crypto.com to form a new venture that will go public through a merger with Yorkville Acquisition, a special purpose acquisition company (SPAC). The new entity will trade under the ticker MCGA and will acquire Cronos as a treasury asset.
Source Fool.com
